Number of bankruptcies slightly up

11/05/2006 15:21

In March this year 400 companies and institutions (excluding single-owner companies) were declared bankrupt. This is 12 bankruptcies more than in February. Compared to a year before the number of bankruptcies was 21 percent less.

The number of bankruptcies declared in a certain month is also dependent on the number of days the courts are in session, so they may fluctuate strongly from one month to the next. Therefore the moving three-month average gives a more accurate representation of the development. In March the average was 403, slightly higher than in February.

In the first quarter of 2006 the number of bankruptcies of companies and institutions (excluding single-owner companies) was 1209. This is slightly down on the preceding quarter. It is the fourth quarter in a row that less companies and institutions were pronounced bankrupt. Moreover, the number of bankruptcies in the first quarter was the lowest in three years.